Super Yachts and Villa Business For Foriegners...Breadfruit Chips For Seychellois!
The business climate in Seychelles has become extremely polarized under James Michel. The rich foreigners get tax free status to import their super yachts which sit at Eden Island waiting for their owners. The average Seychellois is ask to form a breadfruit chips production line, tailor business, or even carve monkeys from coconuts. Equipment needed of course, which is imported, is taxed, so money borrowed, is paid back to James Michel government.
The system hangs you at birth.
Small Entrepreneurs Face PL Supported Monopolies
The most daunting challenge in business for Seychellois is facing the staunch reality that Seychelles main industry Tourism is controlled by monopolistic interests supported fully by the PL and protected by the PL. These interests like the main DMC ' s in the country operate in an exclusive manner making Seychellois small business impossible to succeed and penetrate the markets. Hence small business loans are not an opportunity, but are rather, a chain around your neck. The only thing missing is a concrete base for a good dive.
Loans Without Knowledge
Small businesses that attempt to upstart, need to know the basics of business. The government does not offer any program to train prior to loan disbursement.
Loans Need Mortgages Or Guarantors
These loans require mortgages or Guarantors to be approved. They must be secured. PL who is going to guarantor a loan in this failing economic environment? Who? What is the name of a young entrepreneur who has land that can be mortgaged? What world does PL live in I ask?
Application Form Looks Desperate
The application form looks desperate. One thing is certain, we are not about to discover oil this election.
Sesel Pou Seselwa!
May God Bless All Freedom Loving Seychellois!
15 comments:
Historically most countries promote their local economies by protecting Domestic production from foreign competition.Most countries maintain Taxes on foreign imports called TARIFFS,as well as outright limits on the Quantities of foreign imports called QUOTAS ,in order to protect domestic economic development.This has been true in the Agricultural sector ,where local food production is key to FOOD SOVEREIGNTY/FOOD SECURITY.
Moreover,most countries have public owed firms that are vital to National economic strategies and should allow be control by states,such as water,electricity,healzhcare etc...important to National economic sovereignty and National economic security.
What pl is doing threaten all zhe above,.Pl sell out policies are outsourcing our security and mortgaging our future.
Seychellois are not against real FDI,but seychellois also recognize that pl!s FDI has nothing to do with the real concept of FDI,but rather mega sell off of our economy to pl foreign friends which deposses Seychrllois from their own economy which can be called neo economic slavery.
For the basic standards for FDI investment ADMISSION should be a CASE BY CASE REVIEW of certain investment to determine whether ZHEY ARE NOT A THREAT TO THE NATIONAL INTERESTS AND NATIONAL ECONOMIC SECURITY,as well as FOOD SOVEREIGNTY.
IT is Seychellois brlief that when they fought to extricate COLONIALISM were driven to see a country Independent of a foreign dominion.pl crooked sell out of our economy to foreigners is creating dependent on foreigners.Its a form.of exploitation.
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Jdarc
Does it matter that we lost ownerdhip and control of such a huge proportion of our Assets?Yes,it does.It makes a huge different for all the following reasons:
~MANAGEMENT~when any company is gifted,bought by foreigners,created by another one base abroad,it is inevitable that control to those whose focus is primarily not in the Sexchelles,but on their home markets.This is where zhe TAX Are most likely to be paid and where the links between zhe foreign firms and government are likely to be strongesz.
INVESTMENT~when a Seychellois firm is sold to a foreign owner ,the flow of future profits goes wizh the ownership.Of course,zhere is a little infusion of funds to the government as zhe Assets are sold,but this is at the expenses of losing the Right,both to the future profitabilities,and to any Growth of value of Assets lost of Seychellois ownership.
THE EXCHANGE RATE~when allowed to take place on a big enough scale,zhe impact of very large volumes of sales of portfolio Assets to foreign firms tends to be stronger.Zhis is exactly what is happening in seychelles wizh all the negative effects that this has on our Exports which got priced out of the.market.
PROFITCREPATRIATION~when Michrl!s FDI,makes investment in seychelles,their main objective is not to feed seychrllois ,but to bleed them,in order to maximize their profits.And tobachirved their goal..they uses cheap imported labour,natural resoutces rtc...which allows zhem to enhance their preformance.They regularly repatriate their profits from investment s,zo the Accounts of their parent firms abroad ,in.form.of Dividends,transfers to shareholders,as well as the simple transfer of Accrued profits.Dito,this help them to avoid Taxes by using Transfer Prices~~~this has negative effect on huge Capital Outflows from.Seychelles tobtheir home country and negatively affect the BALANCE OF PAYMENT of the former........BALANCE OF PAYMENT: A bidirected relationship which exists between Pl!s FDI and Imports. An increase in Pl!s FDI inflows from zheir home country has resulted in our incresses in imports in seychelles from abroad,which constrain the existing.local firms,and development in the domestic i.dustry.If zhese investment are not Export ~oriented,Seychelles is bound to suffer from.Trade Deficit,and food sovereignty.
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Jdarc
DUAL ECONOMIC EFFECT~on one hand you have developed sector,mostly owned by foreign firms,and on the other hand,you have underdrveloped sector,owned by locals.Since seychelles! Economy becomes dependent on the developed sector,its economic structure changes.Often,this developed sector,is the Capital~intensive sector and another one is Labour ~intensive.Therefore,Dual economic effect hampers the economic development of seychelles as well as most of its citiznes are located in none~developed sector.This negative effect leads to the so called DUTCH DISEASE EFFECT.
SEYCHELLOIS rncourage FDI,but real FDI,those who provides EXTERNALITIES.PL FDI has nothing to do with real FDI.The extent tovwhich FDI can contribute to economic Growth depends on a variety of factors.One of them is the characteristics inbthe host country called ABSORPTIVE CAPSCITY~~a capacity of the host country to benefit from know~how,technology,of more industrialized nations,and the ability to accumulate and best utilize these knowledge and tech.And the main determinant in the Absorptive capacity is the qualities of insitutions,particularlx,the RULE OF LAW, and PROPERTY RIGHT PROTECTION.
JDARC
THE MONEY YOU DISTRIBUTING BEFORE ELECTION,AS IT IS ALSO THR CASE WITH THEBMONEY PL USES TO BUILD HOUSRS..ZHIS MONEY MICHEL,ARE TAX PAYERS MONEY,NOT YOURS..... DO NOT THINK SRYCHRLLOID FO NOT KNOW THAT.
Loan programme before elrction?to do what ,,with the.money?all businesses have already been given to forrigners.what is small businesses maybe,that do not creatr enough revenues to make a living,but creates peanuts revenues for seychellois.maybe zhe loan is aimed to Praslinois whovwould like to rent a buildingd owed by pl forrign friends of Eve Island..to produce banana chips,boudin,and a public toilet cleaning company.we not going to let u michrl buy our voted wizh our own tax controbution,we donoz wanz loan,buz our 3,4 billions you have stolrn donkey.
Tax payers monry distribute as peanut losn before election and before pl conspirators start it all out sell of seychrllois economy to WTO!s corporation.The already equal sell out of our patrinomy and part of our economy has created a desaster to seychellois economy making it literally impossible to get out of the mess plbcreated,wizh the arrival of WTO,srychrlles is bound to face an economic apocalypse.
Pl says “it is impossible to earn 100% when itcomes to Huaman Rights“That is true,but zhe problem is that pl does not reach 1 %.Moreover,we donot expect criminals like pl to ever be able to respect human rights.Selling out seychellois assets to foreihners is a gross human right voilation which any decent government could earn.
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